Private sector steel maker Jindal Steel & Power (JSP) posted record sales of 0.79 million tonnes (mt) in March and 7.63 million tonnes in FY22, up 5.03% year-on-year.
Strong sales in March were driven by record production of 0.77 million tonnes, up 5% YoY, the company said in a statement. As a result of strong operating performance, the company recorded the highest ever production for the March quarter at 2.11 million tonnes, up 2% YoY.
“Despite a challenging FY22 which saw two races of the pandemic, JSP managed to meet its production guidance; For the first time the mark of 8 million tonnes has been crossed.
Exports accounted for 33 per cent of sales in March; In line with FY22 share.
“The company has achieved its production target for FY 2012. We aim to produce more than 9 million tonnes in FY 2013. VR Sharma, Managing Director, Jindal Steel & Power said, “The expansion of our Angul plant is on track and we expect to reach a capacity of over 15 million tonnes by FY25.
He said the company has significantly increased the supply of raw materials after winning four new coal blocks recently. “We remain fully aligned with the Government of India’s goals of achieving carbon neutrality in the future and will continue to work towards reducing our carbon emissions,” Sharma said.
JSPL has presence in steel, power, mining and infrastructure sectors. It has a worldwide investment of $12 billion.
,